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Raffles City Chongqing launched with 95 per cent committed occupancy
CAPITALAND announced on Monday that its shopping mall Raffles City Chongqing in China saw over 900,000 visitors during its opening weekend, following its launch on Sept 6.
The 235,000 square metre (sq m) shopping mall, with 95 per cent committed occupancy, is the first component of the integrated Raffles City development which spans 1.12 million sq m altogether.
It is slated as the largest mall to open in Chongqing this year, with about 40 per cent of its over 400 international and local brands considered new-to-market brands, flagships or new concepts.
Raffles City Chongqing is located in Chaotianmen, a historic site with views of the Yangtze and Jialing rivers converging. It is Singapore’s and CapitaLand’s single largest development in China at 24 billion yuan (S$4.8 billion).
In addition to the retail podium, the integrated development comprises Ascott Raffles City Chongqing serviced residence, InterContinental Raffles City Chongqing hotel, Grade A office space and luxury apartments housed within eight skyscrapers.
Lucas Loh, president, China, CapitaLand Group, said: “The opening of Raffles City Chongqing marks a new milestone in CapitaLand’s contribution towards and benefiting from China’s urbanisation push. As the ninth Raffles City development to turn operational, it is by far our largest and most complex integrated development.”
He added that the development – seven years in the making – was purposefully built to spearhead the renewal of the Chaotianmen riverfront district with world-class live-work-play amenities and improved accessibility.